Finance & Funding

FIEC calls for greater transport spending for Europe

October 7, 2019

The FIEC, which represents Europe’s contracting firms, is calling for greater spending on developing the transportation network. According to the FIEC, a stronger EU budget for transport is of importance for the European economy. An official statement said, “On its own, completing the TEN-T network will create 10 million extra jobs by 2030. State-of-the art transport infrastructure is also an investment in long-term growth and jobs. Investing €750 billion could generate € 4,551 billion additional GDP.” The

UK road development plan – funding secures

October 3, 2019

Funding has been secured in the UK for 18 road improvement schemes intended to cut journey times. These works have been given the go ahead by the Department for Transport. The projects include the Preston western distributor scheme, which will provide a new dual carriageway to reduce congestion in the city, and the 3.5km Stubbington bypass. Seven other schemes will be awarded funding to develop their business cases. These include the A140 Long Stratton Bypass, which will divert traffic away from busier rou

Vietnam’s North-South Expressway tenders open

October 1, 2019

A series of tenders are opening for Vietnam’s landmark North-South Expressway project. Eight sections of the route are being opened for bidding, with these being planned under the build-operate-transfer model. Financing for these eight stretches will be provided by a combination of bank loans, private investors and government funding. The winning bids should be revealed in early 2020. In all the North-South Expressway is expected to cost nearly US$4.3 billion.

Transport infrastructure spending plans for the UK announced

September 30, 2019

The UK Government has announced transport infrastructure spending plans worth £25 billion. This will be directed towards a series of road upgrades across England and Wales. Key projects expected to be fast-tracked for development include the construction of the A46 bypass around Newark and a new road link connecting the university cities of Cambridge and Oxford. A new link between the M54 motorway and northbound M6 motorway are being considered, as are upgrades to the A38, A 428 and A34.

Cleveland Bridge reports healthy results

September 30, 2019

Cleveland Bridge UK reports healthy results for the fourth consecutive year. The firm’s strong profits are said to add further strength to its balance sheet and it is continuing to develop its order book with new projects. Despite uncertainty in the UK construction sector due to Brexit, the Darlington-based company achieved a turnover of £37 million for its financial year ending 31st December 2018, with an operating profit of £1.2 million and an improving balance sheet. Cleveland Bridge continued to grow

Hyundai is focusing on quality with a new development

September 24, 2019

Hyundai Construction Equipment is focussing on performance and quality with its new project to establish a Reliability Assessment Centre. This research and development facility will be constructed in Yongin, Gyeonggi-do (South-Korea) in a bid to strengthen Hyundai’s quality competitiveness. The firm has held a groundbreaking ceremony for the construction of the reliability assessment centre and a performance evaluation laboratory for finished equipment on a 40,000m² site at the Mabuk-ri Research Institute i

French construction market up 5%?

September 20, 2019

The French construction market could grow by up to 5% in 2019, up from 3.1% last year, according to a recent report. Major infrastructure projects will continue to boost activity, including the country’s motorway building programme, the Greater Paris project of improved roads and other amenities and the French ultra-high-speed broadband plan. Activity in the French public works sector in general is expected to continue to rise at a rate of 10% in 2019, noted the report by Evolis, the French constructi

Brazil’s landmark bridge project planned

September 20, 2019

The tender process is being planned for a major bridge project in Brazil.

Ghana road rebuilding, funding secured

September 20, 2019

Financing has been secured to help pay for rebuilding of the Dome to Kitase road in Ghana’s capital Accra. A US$24 million loan from the Kuwait Fund for Arab Economic Development (KFAED) will pay for the work. Upgrading the route will help improve transport on the northern side of Accra and develop the local economy.

Nigerian road rehabilitation works announced

September 20, 2019

Nigeria is planning a series of road and bridge rehabilitation works across the country. The plans calls for 14 projects in Nigeria, including the construction of new links, improving existing routes, widening roads and building bridges. These contracts are worth over US$457 million in all and have been given approval by the country’s Federal Executive Council (FEC). The contractors to have won the tenders include CBC Global Civil & Building Construction Nigeria, China Civil Engineering Construction Corpor